WTO Predicts Recession in World Trade from 13 % to 32 % in 2020
OREANDA-NEWS. The World Trade Organization (WTO) predicts a decline in global trade during this year from 13 % to 32 % amid the coronavirus pandemic.This information is given in its report, published on April 8 in Geneva. “World trade is expected to fall by between 13 % and 32 % in 2020 as the COVID-19 pandemic disrupts normal economic activity and life around the world,” the message says. Experts explain such a significant range of forecasts by the unprecedented nature of the current health crisis and the uncertainty about its exact economic consequences. According to WTO economists, the decline is likely to exceed the fall that was registered during the global financial crisis of 2008–2009.